IMA Board Extends CEO's Contract

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The Indianapolis Museum of Art Board of Governors has announced a contract extension for the museum's director and chief executive officer. Charles Venable will continue in his position through January 1, 2026.

Venable signed a five-year contract with the IMA in October 2012. Tom Hiatt, chair of the board of governors, said the new agreement reflects the board's confidence in Venable's leadership.

"We recognize and appreciate the many significant achievements Charles has made over the course of the past three and half years, including the the development of a new ten-year strategic plan for the institution," said Hiatt. "Changing the trajectory of any institution takes commitment, hard work and time. The other members of the Board and I are confident that Charles and the leadership team he has recruited have set the IMA on the path to a brilliant—and sustainable—future."

During Venable's tenure, membership at the IMA has increased 200 percent, from 5,000 to 15,000, which is a record-high for the museum. He has also reduced the museum's endowment draw from eight percent to 5.8 percent. The museum says Venable's goal is to reach 5.5 percent this fiscal year.

"I am thrilled and humbled to be asked to lead this great institution for another decade," said Venable. "Over the past three and a half years we have made much progress. I look forward to continuing the great work we now do and to executing new initiatives consistent with our new strategic plan. I am honored to work with a supportive Board, talented leadership team and an enormously dedicated staff on this journey."

The museum also touted Venable's work in securing major gifts in both art and capital, including a $10 million gift from the Lilly Endowment. That money was used to establish an endowed Innovation Fund, which enables the museum to identify, research and pilot new program.

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